Meiji Yasuda Asset Management Co Ltd. Invests $464,000 in Spotify Technology S.A. (NYSE:SPOT)

Meiji Yasuda Asset Management Co Ltd. acquired a new stake in shares of Spotify Technology S.A. (NYSE:SPOT) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm acquired 1,038 shares of the company’s stock, valued at approximately $464,000.

Other large investors also recently bought and sold shares of the company. TD Asset Management Inc. lifted its stake in Spotify Technology by 3.9% during the 4th quarter. TD Asset Management Inc. now owns 252,714 shares of the company’s stock valued at $113,059,000 after acquiring an additional 9,472 shares during the period. GQG Partners LLC bought a new position in Spotify Technology during the fourth quarter valued at approximately $800,725,000. Zevenbergen Capital Investments LLC lifted its position in Spotify Technology by 3.9% during the fourth quarter. Zevenbergen Capital Investments LLC now owns 165,331 shares of the company’s stock valued at $73,966,000 after purchasing an additional 6,140 shares during the period. Prudential Financial Inc. grew its position in Spotify Technology by 128.3% in the 4th quarter. Prudential Financial Inc. now owns 13,676 shares of the company’s stock worth $6,118,000 after purchasing an additional 7,685 shares during the period. Finally, Interchange Capital Partners LLC bought a new stake in Spotify Technology in the 4th quarter worth approximately $243,000. 84.09% of the stock is currently owned by institutional investors.

Spotify Technology Stock Performance

SPOT opened at $580.27 on Friday. The stock has a market capitalization of $118.79 billion, a price-to-earnings ratio of 97.52 and a beta of 1.66. The company has a fifty day moving average of $576.80 and a 200 day moving average of $475.48. Spotify Technology S.A. has a fifty-two week low of $258.00 and a fifty-two week high of $652.63.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on SPOT shares. Canaccord Genuity Group raised their price target on Spotify Technology from $650.00 to $700.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Morgan Stanley boosted their price target on Spotify Technology from $550.00 to $670.00 and gave the company an “overweight” rating in a research note on Wednesday, February 5th. Redburn Atlantic assumed coverage on shares of Spotify Technology in a research note on Tuesday, March 11th. They issued a “neutral” rating and a $545.00 price objective on the stock. Wolfe Research reissued a “peer perform” rating on shares of Spotify Technology in a report on Friday, January 17th. Finally, China Renaissance initiated coverage on shares of Spotify Technology in a research report on Wednesday. They issued a “buy” rating and a $740.00 price target on the stock. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $547.55.

About Spotify Technology

Spotify Technology SA, together with its subsidiaries, provides audio streaming subscription services worldwide. It operates through two segments, Premium and Ad-Supported. The Premium segment offers unlimited online and offline streaming access to its catalog of music and podcasts without commercial breaks to its subscribers.